PROPERTY INSURANCE AND INNOVATIVE BUILDING TECHNIQUES - REDUCING THE CONSEQUENCES OF CLIMATE CHANGE
DOI:
https://doi.org/10.5937/ekoPolj2001269MKeywords:
Climate change, property insurance, MC2 construction systemAbstract
Climate changes are recognized as a matter of global importance. They can have a long term monetary and nonmonetary influence on the lives and prosperity of people. Almost all industries are affected by climate change, but insurance companies and the construction industry suffer particularly high pressure. Due to the unpredictability of climate changes and increased risk, the possibility of withdrawing insurance against natural disasters has been considered. From the construction industry, it is required to adapt to changes, by building less polluting buildings, resistant to destructive effects of climate changes. The insurance industry has recognized the direct connection between green - sustainable practices and reduced risk, which in recent years has been the reason, for becoming a leader in creating, energy and resource efficiency. The contribution of this paper is in the demonstration how innovative construction solution can contribute to sustainable insurance and reducing the consequences of climate change.
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References
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2. Adamandios ,H. (2015). Osiguranje u borbi protiv elementarnih nepogoda: Kad će to meni da se dogodi [Insurance in the fight against natural disasters: When will this happen to me]. Biznis i Finansije [Business and Finance], jun 2015, 72-76.
3. Alzahrani, A.,Boussabaine, H., Almarri, K. (2018). Emerging financial risks from climate changes on building assets in the UK, Facilities, 46(9-10), 460-475. https://doi.org/10.1108/F-05-2017-0054
4. Camilleri M., Jaques R., & Isaacs N. (2001). Impacts of climate change on building performance in New Zealand. Building Research & Information, 29(6), 440–450.
5. Disarufino, T. (2015). Construction Practices in Austria and the European Union: Comparisons and Recommendations for the Construction Industry in the United States, California Polytechnic State University. Retrieved from: https://static1.squarespace.com/static/559921a3e4b02c1d7480f8f4/t/585c4439725e257dda71d72f/1482441786368/Tyler.pdf (December 26, 2019)
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8. Federal Emergency Management Agency- FEMA (2018). Mitigation Assessment Team. Report Hurricane Irma in Florida Building Performance Observations, Recommendations, and Technical Guidance FEMA P-2023, December 2018. Retrieved from https://www.fema.gov/media-library-data/1548685410107-7ebc7d97c302e3d3524ab8dab0eba54d/392944_Irma_MAT_Book_Bookmarked_508_FINAL.pdf (December 26, 2019)
9. Insurance Information Institute (2018). Facts + Statistics: Homeowners And Renters Insurance. Homeowners -Insurance Losses By Cause, 2013-2017. Retrieved from: https://www.iii.org/fact-statistic/facts-statistics-homeowners-andrenters-insurance (December 26, 2019)
10. Gizzi, T. F., Potenza M. R., Zotta, C. (2016). The Insurance Market of Natural Hazards for Residential Properties in Italy. Open Journal of Earthquake Research, 5, 35-61.
11. Heckroodt, R. (2002). Guide to Deterioration and Failure of Building Materials, Chapter 3, Deterioration of masonry, Thomas Telford Publishing. 51-74. https://doi.org/10.1680/gttdafofbm.31722.0003
12. Ki Pyung, K. (2019). Sustainable Construction Technologies: Life-Cycle Assessment Chapter 13 – BIM-Enabled Sustainable Housing Refurbishment—LCA Case Study, Sustainable Construction Technologies, Butterworth-Heinemann, 349-394. https://doi.org/10.1016/B978-0-12-811749-1.00019-5
13. Milinkovic Company (2017). Retrieved from http://milinkovicco.com/ (December 26, 2019)
14. Milinkovic, M. (2001). Applications of ferrocement on terrestrial structures in Yugoslavia, Seventh International symposium on Ferrocement and thin reinforced Cement Composites, Singapore, National University of Singapore, 381-388.
15. Moncmanová, A. (2007). Environmental factors that influence the deterioration of materials: 2.3 Solar radiation (6). Southampton, UK: WIT Press.
16. Moncmanová, A. (2007). Environmental factors that influence the deterioration of materials: 3.2 Effects of water (14). Southampton, UK: WIT Press.
17. Munich Re. Press releases 26 October 2017 (2017). Retrieved from: https://www.munichre.com/en/media-relations/publications/press-releases/2017/2017-10-26-press-release/index.html (December 26, 2019)
18. Müller-Fürstenberger, G., Schumacher,I. (2015). Insurance and climate-driven extreme events, Journal of Economic Dynamics and Control, 54, May 2015, 59-73, https://doi.org/10.1016/j.jedc.2015.03.002
19. Multihazard Mitigation Council. (2005). Natural Hazard Mitigation Saves: An Independent Study to Assess the Future Savings from Mitigation. National Institute of Building Science, Washington DC.
20. Netinger I., Vračević M., Ranogajec J., Vučetić S. (2014). Evaluation of brick resistance to freeze / thaw cycles according to indirect procedures. Građevinar, 66(3), 197-209. Doi: 10.14256/JCE.956.2013
21. Nicholson, E. (2019). Challenges for the Insurance Industry in the Future, Journal of Insurance Regulation, 38(6), 1-26.
22. Ravi, K., Karvekar A.V. (2014). Performance evaluation of hybrid fiber reinforced concrete subjected to freezing and thawing effect. IJRET: International Journal of Research in Engineering and Technology, 3(11), 344-347.
23. Riley, M., Cotgrave, M. (2018). Construction Technology 1: House constructionChapter 3The Building process –Code for sustainable homes, Red Globe Press
24. Salgia, L., Panganti, A. (2018). Ferro Cement as a Cost Effective Alternative to RCC. International Journal of Engineering Research, 7(1), 89-93.
25. Savitz, R., Gavriletea, M.D. (2019). Climate Change and Insurance, Transformations in Business & Economics, 18(1), 21-43.
26. Starominski-Uehara, M., Keskitalo, E. (2016). How Does Natural Hazard Insurance Literature Discuss the Risks of Climate Change? Journal of Insurance Regulation, 35(6), 1-26.
27. Swiss RE Institute. (2018). Sigma - Natural catastrophes and man-made disasters in 2017: a year of record-breaking losses, Sigma, 1, Swiss Re Management Ltd, Zurich
28. Sharma, P. (2016). Analytical Research on Ferrocement: Design, Strength and Serviceability Aspects. International Journal of Scientific Research in Science, Engineering and Technology. 2. 14-20.
29. Teodorescu I., Țăpuși D., Erbașu R., Bastidas-Arteaga E., Aoues Y. (2017). Influence of the Climatic Changes on Wood Structures Behavior. Energy Procedia 112, 450 – 459.
30. UN Environment. United Nations Environment Programme. (2017). Sustainable insurance: The emerging agenda for supervisors and regulators. Sustainable Insurance Forum, International Environment House, Geneva.
31. WEF The World Economic Forum. (2016). Insight Report: The Global Risks Report 2016 (11th Edition), World Economic Forum within the Framework of the Global Competitiveness and Risks Teams, Cologny/Geneva, Retrieved from: http://www3.weforum.org/docs/GRR/WEF_GRR16.pdf (December 26, 2019)
32. WEF The World Economic Forum. (2017). Insight Report: The Global Risks Report 2017 (12th Edition World Economic Forum within the Framework of the Global Competitiveness and Risks Teams, Cologny/Geneva, Retrieved from: http://www3.weforum.org/docs/GRR17_Report_web.pdf (December 26, 2019)
33. Wolfgang, P., Ritzberger-Grünwald, D. (2019). Climate change as a risk to financial stability, in: Financial Stability Report 38, Oesterreichische Nationalbank. Dec2019, 30-45.
34. Zarzycki, A., Decker, M. (2019). Climate-adaptive buildings: Systems and materials, International Journal of Architectural Computing, 17(2), 166-184. DOI: 10.1177/1478077119852707.
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Published
2020-03-26
How to Cite
Milinković, O., Brzaković, P., Milošević, O., & Brzaković, M. (2020). PROPERTY INSURANCE AND INNOVATIVE BUILDING TECHNIQUES - REDUCING THE CONSEQUENCES OF CLIMATE CHANGE. Economics of Agriculture, 67(1), 269–283. https://doi.org/10.5937/ekoPolj2001269M
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Section
Original scientific papers
